Gilead Sciences Rises After Q2 Report

Biotechnology giant,

which has a market-cap approaching $100 billion, released its fiscal second quarter earnings results after the closing bell on Thursday. The company reported adjusted earnings per share that was in-line with estimates and revenue that exceeded Wall Street expectations. In late trade, shares were last up almost 6 percent to $64.26.

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Gilead reported net income of $772.6 million or $0.46 per share, compared to $711.6 million or $0.46 per share, in last year's second quarter. On an adjusted basis, net income was $839.7 million or $0.50 per share, versus $767.3 million or $0.49 per share, in the year ago period. This was in-line with analysts' estimates. Total revenue in the quarter was up 15 percent to $2.77 billion from $2.41 billion a year ago. This compared to analysts' consensus revenue estimates of $2.66 billion. Product sales rose 14 percent in the quarter to $2.66 billion from $2.32 billion last year.